FEDERAL BANK Announces Quarterly Results (3QFY19); Net Profit Up 28.3%

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FEDERAL BANK Announces Quarterly Results (3QFY19); Net Profit Up 28.3%
Fri, 18 Jan

FEDERAL BANK has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

FEDERAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m25,01227,64929,5446.9%18.1%
Other incomeRs m2,2863,2293,4567.0%51.1%
Total revenuesRs m27,29830,87833,0006.9%20.9%
InterestRs m15,51217,42518,7717.7%21.0%
Gross Profit Rs m9,50010,22510,7735.4%13.4%
Other expensesRs m6,1726,4787,15010.4%15.8%
Profit before taxRs m3,9904,0885,17726.6%29.8%
TaxRs m1,3901,4271,84129.0%32.5%
Profit after taxRs m2,6002,6603,33625.4%28.3%
Gross profit margin %38.037.036.5
Effective tax rate%34.834.935.6
Net profit margin%10.49.611.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 18.1% on a year-on-year (YoY) basis. The interest expended was up by 21.0% YoY during the same period.
  • The bank's operating profit increased by 13.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.5% in 3QFY19 as against 38.0% in 3QFY18.
  • Other income increased by 51.1% YoY during the quarter.
  • Net profit for the quarter increased by 28.3% YoY. Net profit margins during the quarter increased from 10.4% in 3QFY18 to 11.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 6.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 7.7% QoQ during the same period.
  • The bank's operating profit declined by 5.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.5% in 3QFY19 as against 37.0% in 2QFY18.
  • Net profit for the quarter increased by 25.4% QoQ, while net profit margins increased from 9.6% in 2QFY18 to 11.3% in 3QFY19.

To see how FEDERAL BANK has performed over the last eight quarters, please visit here.

FEDERAL BANK Share Price Performance

Over the last one year, FEDERAL BANK share price has moved up from Rs 102.2 to Rs 89.1, registering a Loss of Rs 13.1 or around 12.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,795.5 (down 0.1%). Over the last one year it has moved up from 30,017.3 to 30,795.5, a gain of 778 points (up 2.6%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 89.1, the price to earnings (P/E) ratio of FEDERAL BANK stands at 7.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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